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Notes Receivable and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Notes Receivable
As of June 30, 2025 and December 31, 2024, our notes receivable at amortized cost was comprised of the following:

(in thousands)June 30, 2025December 31, 2024
Notes receivable, gross$211,562 $194,434 
Deferred transaction income(3,007)(3,769)
Notes receivable, amortized cost$208,555 $190,665 
As of June 30, 2025 and December 31, 2024, the balance of other receivables, net, on the consolidated balance sheets was comprised of the following:

(in thousands)June 30, 2025December 31, 2024
Late payment fees receivable, net$1,694 $993 
Receivables from merchants
543 698 
Receivables from originating partner
1,788 1,938 
Other receivables, net$4,025 $3,629 
The activity in the allowance for other credit losses related to late payment fees, including the provision for other credit losses, charge-offs, and recoveries for the three and six months ended June 30, 2025 and 2024 was as follows:

For the three months ended June 30, For the six months ended June 30,
(in thousands)2025202420252024
Balance at beginning of period$4,993 $1,090 $5,276 $1,272 
Provision for other credit losses4,568 1,520 8,523 2,599 
Charge-offs(4,596)(1,206)(9,085)(2,612)
Recoveries of charged-off receivables284 122 535 267 
Balance at end of period$5,249 $1,526 $5,249 $1,526 
Net late payment fee charge-offs by year of origination for the six months ended June 30, 2025 was as follows:
(in thousands)20252024202320222021Total
Current period gross charge-offs$(2,602)$(6,460)$(1)$(22)$— $(9,085)
Current period recoveries— 407 55 32 41 535 
Current period net charge-offs$(2,602)$(6,053)$54 $10 $41 $(8,550)
Schedule of Amortized Cost Basis of Our Notes Receivable by Prophet Score and Year of Origination
The amortized cost basis of our notes receivable by Prophet Score and year of origination as of June 30, 2025 and December 31, 2024 was as follows:

June 30, 2025December 31, 2024
Amortized cost basis by year of origination
(in thousands)20252024Total20242023Total
A$74,861 $4 $74,865 $57,945 $— $57,945 
B79,850 9 79,859 74,999 1 75,000 
C53,724 47 53,771 57,646 — 57,646 
No score60 — 60 74 — 74 
Total amortized cost$208,495 $60 $208,555 $190,664 $1 $190,665 
Schedule of Gross Notes Receivable and Related Allowance by Aging The amortized cost basis of our notes receivable by delinquency status as of June 30, 2025 and December 31, 2024 was as follows:
(in thousands)June 30, 2025December 31, 2024
Current$176,104 $161,870 
1–28 days past due15,776 15,303 
29–56 days past due8,392 6,267 
57–90 days past due8,283 7,225 
Total amortized cost$208,555 $190,665 
Schedule of Allowance for Credit Loss
The activity in the allowance for credit losses, including the provision for credit losses, charge-offs, and recoveries for the three and six months ended June 30, 2025 and 2024 was as follows:

For the three months ended June 30, For the six months ended June 30,
(in thousands)2025202420252024
Balance at beginning of period$20,522 $9,183 $26,103 $12,253 
Provision for credit losses20,646 10,094 33,447 15,234 
Charge-offs(20,302)(8,200)(39,964)(17,227)
Recoveries of charged-off receivables2,749 709 4,029 1,526 
Balance at end of period$23,615 $11,786 $23,615 $11,786 

Net charge-offs by year of origination for the six months ended June 30, 2025 was as follows:

(in thousands)20252024202320222021Total
Current period gross charge-offs$(12,648)$(27,186)$(4)$(125)$(1)$(39,964)
Current period recoveries— 3,432 259 151 187 4,029 
Current period net charge-offs$(12,648)$(23,754)$255 $26 $186 $(35,935)